Hansen announced that a patent licensing agreement with Intuitive, originally signed in 2005, was expanded to include new and forthcoming technologies, for which Intuitive will pay a total of $30 million in cash and share purchasing.
HNSN shares were up to $2.27 as of about 3:35 today, a 25.1% increase from the morning’s open at $2.05.
Intuitive agreed to pay $20 million up-front to expand the original licensing deal to include technologies developed after 2005 as well as those coming over the next 3 years, according to a press release. Intuitive also agreed to purchase nearly 5.3 million shares of Hansen’s common stock for $10 million, a 5% premium over the stock’s 10-day average.
The $10 million private placement closed Monday and the $20 million licensing fee will be paid Friday, according to a press release.
Robot-assisted surgery giant Intuitive Surgical got some Wall Street love of its own, with ISRG shares up 1.5% to $543.79 as of about 3:30 p.m.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.